Finance Minister Piyush Goyal Announced in the Budget 2019 that individual taxpayers will get a full tax rebate for income earned upto 5Lakhs.
But if you utilize all the existing income tax deductions, You can be tax free even if your salary/income is 10Lakhs PA.
Check the data in below table for better understanding
After all the income tax deduction calculation, Your income reduce to Rs 5 Lakhs which comes under no tax rule according to new budget session.
But if you utilize all the existing income tax deductions, You can be tax free even if your salary/income is 10Lakhs PA.
Check the data in below table for better understanding
After all the income tax deduction calculation, Your income reduce to Rs 5 Lakhs which comes under no tax rule according to new budget session.
Standard Deduction:
An individual need not disclose any investment proofs or expense bills for this purpose. The Standard deduction is allowed at a standard rate.
Section 80 C:
You can claim upto Rs 1,50,000 under section 80C investments.
Mutual Funds - 3 Yr lock in Period
Bank Fixed Deposit - 5Yr Lock in period
LIC, PPF etc..
But the best investment under section 80 C is undoubtedly Mutual Funds, Which will help your money works for you if you invest for long term.
You need to remember that not all mutual funds come under tax deduction section, Only ELSS category mutual funds are eligible to claim the tax.
Don't Worry just subscribe to sipway website at the end of this post and whatsapp to 8801 64 8801, Our SEBI Certified Financial Advisor will help you to invest in best mutual funds which comes under Section 80c at free of cost.
NPS:
You can claim upto 50,000 by investing in NPS(National pension System) or Atal Penion Yojna.
You can open an accont from online also. For more details visit NPS official website
https://enps.nsdl.com/eNPS/NationalPensionSystem.html
Health Insurance Premium Payment:
If you made any health insurance payment for yourself or your parents you can claim upto 50,000.
Home Loan:
If you are paying interst on your home loan you can claim upto Rs 2 Lakhs.
If you have any queries please mention in comments, You can feel free to contact us at our whatsapp number 8801 64 8801 (Expect some delay in response :) )
You can claim upto Rs 1,50,000 under section 80C investments.
Mutual Funds - 3 Yr lock in Period
Bank Fixed Deposit - 5Yr Lock in period
LIC, PPF etc..
But the best investment under section 80 C is undoubtedly Mutual Funds, Which will help your money works for you if you invest for long term.
You need to remember that not all mutual funds come under tax deduction section, Only ELSS category mutual funds are eligible to claim the tax.
Don't Worry just subscribe to sipway website at the end of this post and whatsapp to 8801 64 8801, Our SEBI Certified Financial Advisor will help you to invest in best mutual funds which comes under Section 80c at free of cost.
NPS:
You can claim upto 50,000 by investing in NPS(National pension System) or Atal Penion Yojna.
You can open an accont from online also. For more details visit NPS official website
https://enps.nsdl.com/eNPS/NationalPensionSystem.html
Health Insurance Premium Payment:
If you made any health insurance payment for yourself or your parents you can claim upto 50,000.
Home Loan:
If you are paying interst on your home loan you can claim upto Rs 2 Lakhs.
If you have any queries please mention in comments, You can feel free to contact us at our whatsapp number 8801 64 8801 (Expect some delay in response :) )
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